All Forum Posts by: Sunny Suh

Hello Bigger Pockets Members!

Been a member for a few months but haven't done an official introduction, hence the "semi-newb". Decided to turn pro on the site today to get more use as i'm looking to buy my first home purchase, preferably a multi-family property that hopefully cash flows around the area. Working with @tim booz who has been holding my hand and who i met on Bigger Pockets before i became pro, connecting me to an attorney and mortgage lender.

I realize there are a lot of those that are new like me, figured i'd post my journey here as well for the Jersey City market. Not easy to find a mentor around here so I plan on being one around this area as I go through the pain myself that many of the members have already faced. 

Hope to see some of you guys at the bigger pockets events, thanks @darren sager for setting them up in NYC!

@Tim booz is helping me currently and has been great so far, but would love to connect as well Vinit! 

Looks great. Smart move on the bathroom, looking to do a pre-fab bathroom unit myself!

hey Denise, you should definitely check with a few people and have at least a minimum of 3 bids to get a rough idea, checking out their past work. add my friend Tom to the list, 201-575-5137. they do full interior and exterior renovations. also depends on how much manpower is needed, but i think it's fair to say this may be a typical 3 person job, depending on how fast you want it done too. Good luck!

Hey @Darren Sager, i'll be there.

Hello, I am looking to purchase my first home soon but I have a dilemma.

I am looking for the maximum tax refund I can receive, but I understand this can hurt my chances with receiving a loan for a mortgage. 

Would there be any accountants to recommend so that I receive a fair amount but still qualify for a mortgage loan?

Anyone else have this issue?

Ah, something I have some knowledge about!

Personally for me, 401k is not the way to go with my current employer (huge factor).

From my research, 401ks are only worth it if you have company match. If that is your case, company match is pretty much free money and something you should definitely get in on.

However, here is why I opted not to do 401k:

- High chance of taxes increasing in the future, hence the overall consensus of many is to pay taxes now than later, so ROTH IRA is a better option

-not much options into what you can invest, some 401ks are set up for the benefit of the company and contain toxic assets

-fees!!!! you should always look for low fees and sadly, some 401ks have hidden fees and high fees over the long term, something that many don't look into

Overall, it is better to do something than to do nothing, so kudos to those that have 401ks, but see if you guys are in my boat and would benefit more from moving it to a ROTH IRA or maybe even doing both!

Hey Clay!!

Been avidly following this thread, great work and awesome attitude with all these funky setbacks. 

Has the construction begun?

Also another question: let's say you were qualified, approved, and received the $225,000 but ended up spending only $200,000. Do you have the full control of that money where you can spend that $25,000 towards anything you want?